Page 34 - Saginaw FY19 Annual Budget
P. 34

CITY OF SAGINAW

                                                BUDGET HIGHLIGHTS
                                                           2018-2019



                     Beautification  funding  will  be  used  for  a  plan  update  ($30,000)  and  for  City  signage
                       ($40,000) on the Ardent Mills silo.

               GENERAL ESCROW FUND


                     The  General  Government  Escrow  Fund  was  created  in  FY  2014-2015  to  better  track
                       funds that are received and to be used for a specific purpose.  The types of revenues
                       budgeted in this fund are: hotel/motel tax, court technology fees, court security fees, gas
                       production proceeds, and insurance deductibles and settlements.

                     The equipment replacement for the General Fund will be accounted for in the General
                       Escrow Fund.  The equipment replacement escrow will begin in FY18/19.  The annual
                       contribution will be based on the useful life of the purchased asset and the estimated
                       replacement cost.  Funding for the replacement of equipment purchased beginning in
                       FY18/19  will  be  in  the  equipment  replacement  escrow,  as  long  as  the  annual
                       contribution is made.  The contribution for General Fund equipment in FY18/19 will be
                       $28,905.

                     Revenues are budgeted at $120,915.

                     Budgeted  expenditures  include  the  Chamber  of  Commerce  support  ($5,000),  a
                       contribution to revive the “Train and Grain” festival ($10,000), a transfer to the General
                       Fund for court security (Bailiff $5,000), the replacement of four hand held ticket writers
                       ($14,000), and insurance deductibles/repairs ($40,000).

               WATER/WASTEWATER ESCROW FUND

                     The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track funds
                       that  are  received  and  to  be  used  for  a  specific  purpose.    The  types  of  revenues
                       budgeted in this fund include water and wastewater impact fees.

                     The  equipment  replacement  for  the  Enterprise  Fund  will  be  accounted  for  in  the
                       Enterprise  Escrow  Fund.    The  equipment  replacement  escrow  will  begin  in  FY18/19.
                       The annual contribution will be based on the useful life of the purchased asset and the
                       estimated  replacement  cost.    Funding  for  the  replacement  of  equipment  purchased
                       beginning  in  FY18/19  will  be  in  the  equipment  replacement  escrow,  as  long  as  the
                       annual  contribution  is  made.    The  contribution  for  Enterprise  Fund  equipment  in
                       FY18/19 will be $14,485.

                     $155,000 in water impact fees will be transferred to the Enterprise Fund for the design
                       of Saginaw Boulevard 16” water line phase 2 project.










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